Sagicor Real Estate XFUND Limited (XFUND), for the three months ended March 31, 2023, reported total revenue of $2.09 billion relative to $1.79 billion reported in 2022, a 17% increase year over year. XFUND stated, “The upturn in worldwide travel, for both business and leisure contributed to a $328.43 million increase in Hotel revenues, 19% above Q1 2022.”

Hotel revenue for the three months period increased to $2.04 billion versus the $1.72 billion reported in 2022.

Operating expenses rose by 19% to $1.86 billion (2022: $1.56 billion).

XFUND reported profit before tax of $227.30 million relative to a profit of $225.49 million for the three months prior. After paying taxes of $88.52 million (Q1 2022: $43.87 million), XFUND reported a net profit of $138.79 million compared to a net profit of $181.61 million in Q1 2022.

Net Profit attributable to shareholders for the three months amounted to $138.79 million vs a profit of $181.61 million in Q1 2022.

XFUND closed their first quarter with an EPS of $0.06. In Q1 of 2022, XFUND reported a earnings per share (EPS) of $0.08. The trailing twelve-month EPS is $0.19 and the number of shares used in our calculations was 2,243,005,125. As at May 16, 2023, the stock traded at $8.58 with a P/E of 45.49x.

Balance Sheet Highlights:

The Company, as at March 31, 2023, recorded total assets of $28.95 billion, a 8% decrease when compared to $31.58 billion reported in Q1 2022. The decrease was primarily due to a lack of Financial investments recorded on the balance sheet, which closed the period at nil (2022: $6.12 billion).

Total Shareholders’ Equity as at March 31, 2023 closed at $19.20 billion, a 15% increase from the $16.73 billion reported for the corresponding period last year; resulting in a book value per share of approximately $8.56 (2022: $7.46).

Disclaimer:

Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.